BB&T's fourth quarter 2012 earnings came in at 71 cents,
surpassing the Zacks Consensus Estimate by a penny.
Better-than-expected results were primarily driven by growth in
top line and reduced operating expenses, partially offset by
slightly higher provision for credit losses. Also, improved
credit quality as well as stable capital ratios were impressive.

Following the fourth-quarter results, the Zacks Consensus
Estimate for 2013 has inched up 0.3% to $2.94 per share over the
last 60 days. Yet, the Zacks Consensus Estimate for 2014 has
remained stable at $3.14 per share in the same time frame. Hence,
BB&T currently has a Zacks Rank #3 (Hold).

BB&T remains focused on its organic growth strategy, which is
evident from its increase in client deposits and net interest
income. Further, BB&T is focused on its inorganic growth
strategy, thereby expanding its revenue streams and its market
share by acquisitions in both 2011 and 2012. The company intends
to pursue more acquisitions to enhance its banking network and
improve top line.

Despite improvements being witnessed in credit metrics in 2012,
credit quality still remains a cause of concern. Moreover, a
sluggish economic recovery along with wide exposure to problem
assets and various regulatory issues might pose a problem for
BB&T to considerably improve its financials going forward.

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